GSA Capital Partners LLP Grows Position in iHeartMedia, Inc. (NASDAQ:IHRT)

GSA Capital Partners LLP increased its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 19.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,096 shares of the company’s stock after buying an additional 78,177 shares during the quarter. GSA Capital Partners LLP owned 0.33% of iHeartMedia worth $897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IHRT. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of iHeartMedia by 169.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock valued at $84,000 after acquiring an additional 25,001 shares during the period. Vanguard Group Inc. increased its holdings in iHeartMedia by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock valued at $13,754,000 after purchasing an additional 203,917 shares during the period. SG Americas Securities LLC bought a new position in iHeartMedia during the 2nd quarter valued at approximately $69,000. AEGON USA Investment Management LLC lifted its holdings in iHeartMedia by 128.3% in the 2nd quarter. AEGON USA Investment Management LLC now owns 208,713 shares of the company’s stock worth $227,000 after buying an additional 117,273 shares during the period. Finally, Optas LLC bought a new stake in shares of iHeartMedia in the 2nd quarter worth approximately $29,000. 93.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at iHeartMedia

In related news, Director James A. Rasulo sold 40,223 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $2.40, for a total value of $96,535.20. Following the completion of the transaction, the director now directly owns 339,322 shares in the company, valued at $814,372.80. This trade represents a 10.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IHRT. Bank of America upgraded iHeartMedia from an “underperform” rating to a “neutral” rating and upped their target price for the company from $1.00 to $3.00 in a report on Tuesday, November 12th. Barrington Research raised shares of iHeartMedia to a “hold” rating in a research report on Tuesday, November 12th.

iHeartMedia Stock Down 4.3 %

IHRT opened at $2.21 on Friday. iHeartMedia, Inc. has a 52 week low of $0.81 and a 52 week high of $3.12. The stock has a market cap of $324.44 million, a PE ratio of -0.33, a PEG ratio of 0.45 and a beta of 1.69. The business has a 50 day moving average of $1.90 and a 200-day moving average of $1.54.

About iHeartMedia

iHeartMedia, Inc operates as an audio media company in the United States and internationally. It operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations, sponsorship and events, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates.